watch out for tex, page-43

Leaders, I've given this matter a lot of thought.
Bottom line is it's best to hang on to the options.(IMO)
You'd have to find a lot of money to exercise your oppies, and yes, you'd get your 1 for 8 extra shares for 3c, plus attaching options. It seems like you are getting something for nothing, but hanging on to the options gives you heaps more leverage than converting to shares and you don't need to find all that cash to convert.

There is a worst case scenario where the shares drop below 10c and options become valueless, in which case, yes, better to exercise all your options. You'd still have shares worth a little bit.

But the options have a long time to run yet and if you think TEX shares are going to do better than 10 or 12c before exercise date, then hang on to the oppies.(Note this is my opinion, I haven't done detailed arithmetic or risk analysis, DYOR as they say)

But note that no-one has converted any options yet, so no-one else thinks it's a good idea.